Myers Industries (NYSE:MYE) Rating Lowered to “Sector Weight” at KeyCorp

KeyCorp lowered shares of Myers Industries (NYSE:MYE) from an overweight rating to a sector weight rating in a research note published on Wednesday morning, MarketBeat.com reports. KeyCorp also issued estimates for Myers Industries’ FY2026 earnings at $1.58 EPS.

Myers Industries Stock Performance

Shares of MYE stock traded up $0.22 during trading hours on Wednesday, hitting $12.44. The stock had a trading volume of 58,461 shares, compared to its average volume of 252,618. The stock’s 50 day moving average is $13.27 and its 200 day moving average is $14.82. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. The firm has a market capitalization of $463.04 million, a PE ratio of 29.07 and a beta of 1.23. Myers Industries has a twelve month low of $10.77 and a twelve month high of $23.63.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $205.07 million for the quarter. Myers Industries had a return on equity of 14.53% and a net margin of 1.88%. During the same period last year, the firm earned $0.38 earnings per share. As a group, research analysts forecast that Myers Industries will post 1.13 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.34%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 128.57%.

Hedge Funds Weigh In On Myers Industries

Several institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its holdings in Myers Industries by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,193,054 shares of the industrial products company’s stock valued at $73,983,000 after acquiring an additional 21,724 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after acquiring an additional 182,215 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Myers Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock worth $21,466,000 after acquiring an additional 4,777 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Myers Industries by 3.9% during the second quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock worth $21,037,000 after purchasing an additional 58,500 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Myers Industries by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock valued at $19,810,000 after purchasing an additional 113,100 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.